RCS&RDS buys music channel

August 12, 2013 09.52 Europe/London By Chris Dziadul

Digi TVRomania’s RCS&RDS has acquired a 50% stake in the folk music channel Hora TV for an undisclosed fee.

According to local reports, the stake was formerly held by a company named Profimusic, with Vasile Coca and Viorelia Coca owning 45% and 5% respectively.

Hora TV was launched in 2008 and is currently distributed by all cable operators in Romania.

It made a net profit of €5,000 on a turnover of around €50,000 last year.

RCS&RDS is the leading cable and DTH operator in Romania and employs the brand name Digi.

Its assets include a growing portfolio of TV channels, and with the latest acquisition this now consists of 11 national, one regional and five local services.